ANNUAL GENERAL MEETING 28 April 2017
Meeting Schedule Time Item 9:30am - 9:35am Chairman's address 9:35am - 9:55am Reading of AGM resolutions polling 9:55am - 10:15am Group update and FY 2016 results presentation 10:15am - 10:30am Q&A session 10:30am - 10:45am Polling results announcement End Refreshments 2
Important notice This presentation has been prepared by Halcyon Agri Corporation Limited (“Company”) for informational purposes, and may contain projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. The information is current only as of its date and shall not, under any circumstances, create any implication that the information contained therein is correct as of any time subsequent to the date thereof or that there has been no change in the financial condition or affairs of the Company since such date. Opinions expressed herein reflect the judgement of the Company as of the date of this presentation and may be subject to change. This presentation may be updated from time to time and there is no undertaking by the Company to post any such amendments or supplements on this presentation. The Company will not be responsible for any consequences resulting from the use of this presentation as well as the reliance upon any opinion or statement contained herein or for any omission. 3
Halcyon’s Global Village 4
New Appointments: Board of Directors Liu Hongsheng Li Dajun Raymond John Ferguson Non- Executive Chairman Executive Deputy Chairman Independent Director Current Appointment: Current Appointment: Current Appointment: • • • Appointed Non-Executive Chairman on 16 January 2017 Appointed Executive Deputy Chairman on 15 November Appointed Independent Director on 15 November 2016 • • Co-Chairman of the Strategy and Investment Committee 2016 Co-Chairman of the Strategy and Investment Committee • • • Executive Director and President of Sinochem International Member of the Nominating Committee Executive Chairman of Caber Financial Pte Ltd. Corporation. Previous roles in Sinochem International Corporation: Previous Roles in Sinochem International Corporation, Previous Appointments • • • Vice President of Sinochem International Corporation Senior Vice President at Sinochem International Corporation Chairman and Director of several Standard Chartered Bank • • Senior Vice President in the chemicals segment GM of Sinochem Crop Protection Products Co., Ltd. (SCB) subsidiary boards • • • GM of the logistics business division. GM (Agrochemical Business) of Sinochem International Chief Executive Officer of SCB, Singapore from Aug 2009 Corporation until March 2014, in addition to his role as Regional Chief Prior to joining Sinochem (2000): • GM of Sinochem International Corp Care Co., Ltd. Executive Officer, Southeast Asia, a position which he held • Deputy Head of the Human Resources department of the • GM of Sinochem Argo Co., Ltd. from December 2007 to January 2012 Ministry of Foreign Trade and Economic Cooperation • Group Deputy Chief Executive Officer, Executive Vice • First Secretary of the Economic & Commercial Counsellor’s President and Group Chief Banking Officer of Arab Banking Office at the Chinese Embassy in Thailand Corporation from April 2014 to January 2017 Education: Education: Education: • • • Masters Degree in Business Administration from Henley Bachelor Degree in philosophy from Peking University Bachelor Degree in Biology from Shaanxi Normal University • • Executive Master’s Degree in Business Administration Bachelor Degree in International Trade from the University Management College and Brunel University (EMBA) from Shanghai Maritime University. of International Business and Economics • Master’s Degree in Business Administration from Fudan University – BI Norwegian School of Management. 5
The transformation of Halcyon Agri Halcyon Agri’s transformation Key milestones Jun 2015 2013 2017 Halcyon Agri transferred to Mainboard of SGX-ST Jun 2015 Rubber Acquired 2 factories 33 factories Processing Centrotrade Rubber Indonesia, Malaysia, Thailand, China, Indonesia Group Cameroon and Ivory Coast Feb 2013 Listed on the Catalist Jul 2015 of the SGX-ST Completed financing Plantation 0 hectares 120,000 hectares of up to US$413m Land syndicated credit and NIL Malaysia, Cameroon and Ivory Coast working capital facilities Annual Aug 2016 110,000 2,000,000 Distribution Sinochem acquired a mT mT 65.7% majority stake in Halcyon Agri through a MGO, with Jul 2014 10.2% transferred to 2 locations Presence 54 locations Issued maiden bond the China-Africa Factories, offices and logistic Factories & offices of SS$125m 5-year Development Fund assets 6.5% fixed rate notes Aug 2014 Oct 2016 Apr 2010 Human Completed Acquired NR assets 13,000 + 650 Halcyon Agri Resources acquisition of the from Sinochem established in Anson Group Singapore Sep 2014 Nov 2016 Acquired New Completed Origins & Continent SIR SIR, SMR, STR, Grades acquisition of GMG Enterprises (Private) SCR, SAR, LATEX Global Limited and its subsidiaries Source Company disclosure and filings. Recent acquisition information (2016) obtained from Shareholder’s Circular dated 16 May 2016: https://www.halcyonagri.com/wp-content/uploads/2016/05/HAC_Circular_GMG_VGO_NR_Assets.pdf. 6
Operations Structure Industrial distribution & latex Global tyre majors PRC tyre majors United States Europe Distribution Singapore China China Southeast Asia Malaysia 3 Cameroon 1 Indonesia 14 Processing Thailand 5 China 5 Ivory Coast 2 Thailand 5 China 8 Plantations Malaysia 1 Cameroon 2 Ivory Coast 1 111,432ha / 29,088ha 1 1,581 ha / 1,415ha 1 9,844ha / 2,951ha 1 Consumer & industrial goods Tyre majors 1 Refers to total/planted area. Figures as of 25 April 2017 7
Scale, Scope & Reach 84,000 ha 1.4 million mT Sales presence & logistics assets in Plantable Africa & Malaysia plantations origins Global procurement reach 33 Production Facilities Cities worldwide 8
Operational Metrics: Plantations Planted Area Cumulative Land area (freehold and leasehold) 122,856 ha TRCI Plantable area 84,090 ha 4% JFL Planted area 33,454 ha 9% -Immature plantation 18,306 ha -Mature plantation 15,148 ha Sudcam Plantation Planted Area (ha) 23% Hevecam Hevecam 21,280 64% Sudcam 7,808 JFL 2,951 TRCI 1,415 Total planted area 33,454 Figures as of 25 April 2017. 9
Operations Metrics: Production 33 Production facilities Location No. of factories Capacity (mT) Indonesia 14 629,000 Malaysia 3 220,000 Thailand 5 275,000 China 8 180,000 Ivory Coast 2 56,000 Cameroon 1 55,000 Total 33 1,415,000 10
Operation Metrics: Distribution Moerdijk Amsterdam Kruiningen Hamburg Wemeldinge Wunstorf Farnham Lodz Genk Aubange Wittenberg Ontario Pont d’Ouilly Eschborn Shenyang Yingkou Newark, NJ Baltimore, MD Tianjin Kent, OH Porto Qingdao Livorno Norfolk, VA Qingzhou Chesapeake, VA Oxford, NC Shanghai Virginia Beach, New Orleans, LA VA Quanzhou Yunnan Savannah, GA Guangzhou Kolkata Hainan Thung Song Ho Chi Minh City Narathiwat Abidjan Yala Kedah Pattani Kelantan Surat Thani Ipoh Doula Medan Pontianak Penang West Kalimantan Kuala Lumpur Pekanbaru Central Rantau Prapat Kalimantan Singapore Lima Jambi Palembang Jakarta Offices Factories Rio de Janeiro Warehouse/ tank storage Agents Durban Port Elizabeth Melbourne Auckland 11
Highlights 2016 Financial performance ▪ Revenue of US$1.0 billion ▪ Profit Before Tax of US$75.3 million Corporate activities ▪ Sinochem International Corporation (“SIC”) became the majority shareholder ▪ Acquisition of GMG Global Ltd and SIC natural rubber business completed ▪ Syndicated financing facility replaced with 5- year term loan from China Construction Bank, expects financing cost savings in 2017 Large- scale operations ▪ 90% increase in production capacity to 1.4 million mT/ annum, produce in 6 geographical origins ▪ Distribution capacity of 2.0 million mT/ annum ▪ 84,000 ha of plantable land in Malaysia, Cameroon and Ivory Coast Volatile market with strong recovery ▪ Natural rubber price fluctuated 106% in 2016 ▪ Price hits 3- year high of US$2,149/mT in the fourth quarter Disposal of 35% in SIAT S.A ▪ Memorandum of Agreement entered into with Fimave SA/NV on 23 December 2016 ▪ Sale consideration €192.56 million ▪ €5 million Call Option Price received in February 2017 ▪ Call Option can be exercised by the purchaser by 15 July 2017 (or any later date agreed between the parties) 2017 Multicurrency debt issuance programme established on 25 April 2014 ▪ Programme limit increased from S$300 million to US$1.0 billion with effect from 17 April 2017 Issuance of US$150 million 4.5% Senior Perpetual Securities ▪ Listed and quoted in the SGX-ST Bonds Market from 27 April 2017 ▪ Redeemable after 2 years ▪ Constitute direct, unconditional, unsubordinated and unsecured obligations 12
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